“We greatly appreciate our effective collaboration with the AFM throughout this journey,” said Jeetan Patel, Chief Risk Officer at Bitvavo. “The process has been smooth.”

Bitvavo currently stands as the world’s largest EUR spot exchange. The crypto exchange now joins the ranks of Coinbase and Kraken, both of which have also recently obtained a MiCA license. Coinbase received its license from Luxembourg, while Kraken got its approval from Ireland. The Netherlands has similarly granted MiCA licenses to MoonPay and three other crypto firms towards the end of 2024.

The MiCA regulation, which was fully implemented at the end of last year, furnishes a single, comprehensive regulatory framework for cryptocurrency companies across the European Union. “To ensure fair competition in Europe, it’s crucial that rules are consistently formulated and applied across all member states,” stated Mark Nuvelstijn, Bitvavo’s CEO. “This license provides clarity, assurance, and aids Bitvavo in achieving its goal – to emerge as Europe’s leading digital asset trading platform.”

Reports suggest that the cryptocurrency exchange Gemini is also nearing the final stages of obtaining MiCA approval from Malta, as previously reported by The Block.

Disclaimer: The Block is an independent media outlet offering news, research, and data. Major investor Foresight Ventures has held a majority stake in The Block since November 2023. Foresight Ventures also invests in other entities within the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently, providing unbiased, impactful, and timely information about the crypto industry.

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Bitvavo co-founder and CEO, Mark Nuvelstijn, affirmed the development on Friday, voicing his entire backing for the MiCA initiative. “We wholeheartedly endorse the central tenets of MiCAR,” he stated. He further stressed the necessity for consistent rules formulation and enforcement across all European countries to ensure a uniform playing field.

The company’s chief risk officer, Jeetan Patel, described the license acquisition as a result of “constructive collaboration”. He highlighted that the license offers Bitvavo the assurance and clear guidance needed to operate confidently in Europe.

Patel appreciated the AFM’s cooperation throughout the process, which he termed as efficient and rigorous. He added, “In the recent past, we have undertaken all the required steps in the licensing procedure and have confirmed compliance with the comprehensive MiCAR regulatory prerequisites.”

The news follows a series of MiCA license approvals across Europe. Notably, Kraken secured its license from the Central Bank of Ireland, Coinbase from the Luxembourg Commission de Surveillance du Secteur Financier, and Bybit from Austria’s Financial Market Authority (FMA).

Moreover, in December 2024, MoonPay, a crypto payments company, was approved to operate as a licensed crypto business in the Netherlands under the MiCA legislation. This regulatory framework has triggered a boost in investor confidence across Europe, with trading volumes from EU customers increasing by 70% in Q1 2025, as reported by Paybis’ co-founder and chief business development officer, Konstantins Vasilenko.

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